Fifth Amendment to Employment Agreement between R. Neal Black and Jos. A. Bank Clothiers, Inc.

Contract Categories: Human Resources › Employment Agreements
Summary

This amendment updates the employment agreement between R. Neal Black and Jos. A. Bank Clothiers, Inc. It extends Mr. Black's employment period to January 31, 2007, and increases his base salary to $375,000 effective February 27, 2005. All other terms of the original agreement remain unchanged unless specifically modified by this amendment. The amendment has been approved by the company's Audit Committee and is now part of the original employment agreement.

Read More Arrow
EX-10.3 4 a4859696ex103.txt EXHIBIT 10.3 Exhibit 10.3 FIFTH AMENDMENT TO EMPLOYMENT AGREEMENT THIS FIFTH AMENDMENT (this "Amendment") is made as of this 4th day of April, 2005 to that certain EMPLOYMENT AGREEMENT, dated as of December 21, 1999 (as heretofore amended, the "Employment Agreement"), by and between R. NEAL BLACK ("Employee") and JOS. A. BANK CLOTHIERS, INC. ("Employer"). FOR GOOD AND VALUABLE CONSIDERATION, the receipt and adequacy of which are hereby acknowledged, Employer and Employee, being the sole parties to the Employment Agreement, hereby amend the Employment Agreement as follows: 1. Subject to earlier termination otherwise set forth in the Employment Agreement, the last day of the Employment Period shall be January 31, 2007. 2. Effective February 27, 2005, Employee's Base Salary shall be $375,000.00. Except as specifically amended hereby, the Employment Agreement shall remain in full force and effect according to its terms. To the extent of any conflict between the terms of this Amendment and the terms of the remainder of the Employment Agreement, the terms of this Amendment shall control and prevail. Capitalized terms used but not defined herein shall have those respective meanings attributed to them in the Employment Agreement. This Amendment shall hereafter be deemed a part of the Employment Agreement for all purposes. The terms of employment set forth in this Amendment have been approved by the Audit Committee of the Board of Directors of the Employer. IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date first above written. JOS. A. BANK CLOTHIERS, INC. By: /s/ Robert N. Wildrick /s/ R. Neal Black ---------------------- ----------------- Robert N. Wildrick, R. NEAL BLACK Chief Executive Officer 8